All registered charities are governed by the Charities Commission.
To comply with regulatory requirements, the majority of charities are, required by law, to have a “Board of Directors” known as “Trustees”.
Similar to the Board of Directors in the corporate sector Trustees play a vital role in ensuring the professional management of the organisation.
Typically Trustees are involved in and responsible for, inter alia :
– the preparation & ultimate approval of the strategic direction of the charity in conjunction with the Chief Executive Officer and other members of the senior management team
– the sound financial management of the organisation & the signing off of financial statements
– ensuring all regulatory matters are being complied with
– approval of short/medium term budgets
– the overall well being of staff members & their remuneration as recommended by management
– providing on-going support & guidance to the senior management & active involvement, as and when necessary
– attending regular Trustee meetings
The management of charities therefore welcome experienced people from different areas of business who can make a valuable contribution to the organisation. For example, expertise in finance & accounting, human resources, IT, strategic planning, compliance etc..are much sought after.
On the other hand, being a Trustee of a charity provides a volunteer with in-depth experience, through involvement in the management of the business & the decision process, thus broadening their own level of expertise – the diversified range of exposure to all aspects of the business is something that the volunteer may not experience in their current corporate role.
This can therefore be of significant benefit to both the volunteer in their own personal career development as well as for their employer